It may be correct.
There are two ways to handle depreciation after a 1031. Turbo Tax only handles one method well, the single schedule depreciation. It is simple, you take your new adjusted basis, begin depreciation fresh on the new property based on the type of property. The new building could have a different depreciation schedule from the old property, 39 vs 27.5 years.
It sounds like you have adjusted the basis and begun a fresh depreciation.
If you are trying to use the 2 schedule method, you will have one depreciation for each property and the basis is not adjusted since you are still depreciating the first/ relinquished property.
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